Good morning, MBA readers,
A panel convened to map out plans for bringing hyperloop technology to Missouri has released its findings in a new report, which leaves some questions unanswered. On one hand, the report clarifies that the high-speed transportation system would cost an estimated $30 to $40 million per mile. But who’s going to foot the bill? If you don’t have time to read the entire 176-page report yourself, you can brush up down below, where you’ll also find other top business news from around the state.
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Cerner, Uber partner on medical transport
Cerner has partnered with Uber Health to give patients rides to hospitals for non-emergency visits. The deal allows Cerner, which estimates about 3.6 million patients cannot access health care because they lack transportation, to expand its offerings to a client base of 27,500 contracted providers. (Kansas City Business Journal)
$800M Stifel team jumps ship for Wells Fargo
A Stifel, Nicolaus & Co. financial advisory team with $800 million in client assets has left the firm to join Wells Fargo Advisors in St. Louis. The team is led by Manne Palan, managing director of investments, who had been with Stifel for 30 years. (St. Louis Business Journal)
CenturyLink fiber cut impacts KCI, mid-Missouri service
A fiber line cut in the CenturyLink network Monday caused delays in checking in passengers and bags at Kansas City International Airport. The temporary service interruption also affected parts of mid-Missouri, including emergency service call centers. (Columbia Missourian, KSHB)
KC-area software company acquires Chicago firm
Overland Park, Kansas-based medical billing software maker eSolutions has acquired Medidal, another medical software company. It’s the second acquisition this year for eSolutions, which reported $81.4 million in revenue in 2018. (Kansas City Business Journal)
Cultivation Capital leads $3.4 million funding for childcare software startup
St. Louis-based Cultivation Capital has led a $3.4 million round of funding for Kangarootime, a New York-based startup that builds software products for preschools and other childcare entities to help them manage their businesses. (St. Louis Business Journal)
MSU board elects new officers
The Missouri State University Board of Governors has elected Craig Frazier as its new chairman and Amy Counts as vice chairwoman. Frazier, a 20-year veteran of the health care technology industry, currently serves on the board of Springfield Innovation Inc., and Counts is a senior account executive at insurance provider Wise F&I in St. Louis. (Springfield Business Journal)
Bookseller closing St. Louis-area processing center, cutting 65 jobs
Seattle-based ThriftBooks plans to close a processing center in Maryland Heights by Dec. 22, eliminating 65 positions at the location. A notice filed with the state said the facility’s customer service team will be retained and transitioned to remote working positions. (St. Louis Post-Dispatch)
St. Louis art museum seeks $12 million in endowment
The Contemporary Art Museum St. Louis plans to boost artist support and add services through a $12 million fundraising campaign. The initiative has already raised $9.7 million in large donations, including $5 million from Emily Rauh Pulitzer. (St. Louis Public Radio)
Say that again
“There will be no prize for second place. If Missouri is to meet the Speaker’s objective of becoming the global epicenter for the research, development, and certification of tubed transport technology, it must focus on becoming the regulatory certification site for this new technology.”
That’s an excerpt from a report released Monday by the Blue Ribbon Panel on Hyperloop. The group, which was convened by Missouri House Speaker Elijah Haahr, issued a report detailing how best to bring hyperloop transportation technology to Missouri. Among the key steps in the plan to land the tube-based transit system: getting a test track in Missouri. Hyperloop technology, which is still under development, is billed as being able to convey pods at speeds of up to 670 miles per hour — effectively reducing the time to travel across Missouri to less than 30 minutes. Costs for constructing the transportation system are estimated at $30 to $40 million per mile.
That’s about how many people around the world participate in powered paragliding, according to Conner Ruhl. Powered paragliding is a form of aviation that involves pilots wearing back-mounted motors and using parachute-like canopies to glide through the air. Ruhl, a software developer and paragliding hobbyist, won recognition at Columbia Startup Weekend for his app catering to this niche market, and he talked about future plans for the venture on the latest Speaking Startup podcast.
Hello, my name is
The fast-growing clinical genomics technology startup has almost doubled its employee base to 160 over the past year, the St. Louis Business Journal reports. The St. Louis-based company recently raised $27 million in a Series B funding round, which has come during a period of “explosive growth,” CEO Michael Sanderson said. PierianDx recently partnered with San Diego-based genomics firm Illumina, which has given it a “global footprint,” according to Sanderson.
It’s been a pleasure doing business with you this morning.